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| Statement |
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| The data we are beginning to generate suggests that Talis Bio is well positioned to address these limitations, capture a large and growing market and most importantly, make a meaningful impact on the delivery of timely and accurate patient care |
| So, we do have a really strong balance sheet right now with our cash position |
| Heiner's entrepreneurial vision and track record leading multiple corporate functions over the course of his 20-year tenure at Roche, including as President and Chief Executive Officer at Roche Molecular Systems, make him a great fit for the large opportunities ahead of us |
| During this pivotal period of execution at Talis Bio, Andrew's Executive experience and proven ability to bring products to market from concept to commercialization will fortify the strong teams we have built to deliver the Talis One, test menu |
| With these accomplishments, we believe we are well-positioned to deliver three cleared test panels for the women's and sexual health markets by the end of 2025 |
| And that timing and the development has been very encouraging |
| Turning now to Clinical Development, new data presented at IDSOG, The Infectious Diseases Society for Ob/Gyn's annual meeting last month gives us confidence that we are on the path to developing a viable and differentiated test menu |
| We believe the ability to lyse difficult pathogens and to purify and concentrate nucleic acids to deliver lab-quality test results in less than 30 minutes will be a key differentiator from current platforms |
| We are encouraged that a CT/NG/TV multiplex test is feasible on a molecular point-of-care system, and believe access to test results during a single patient visit will enable providers to make informed treatment decisions, and become better stewards of antibiotic use |
| We look forward to benefiting from both, Heiner and Andrew's seasoned perspective, as we advance our mission to deliver accurate infectious disease testing, in the moment of need at the point-of-care |
| But right now, the three that I mentioned are the ones that we're confident with and HSV is one that we hope we can expedite |
| Based on these positive early results, the Talis One system may be able to achieve these limits of detection, while having a turnaround time that is approximately 30 to 90 minutes faster than these comparator tests |
| We are preparing for clinical studies to support our broader test menu, we have generated positive data that positions us to develop differentiated CT/NG and vaginal infection panels, and we are continuing to optimize manufacturing processes to support all of our upcoming clinical studies, as well as early commercialization efforts |
| We are excited for the opportunity ahead to decentralize women in sexual health testing |
| So there is an upside opportunity that we potentially could have pull in HSV into 2025 |
| We continue to conserve cash during the first 6 months of 2023 by delivering a 53% improvement in net cash used in operating activities year-over-year with an average monthly cash burn rate within our target range of $4 million to $5 million |
| Fortunately, we're really coming from a position of strength |
| We are executing a disciplined regulatory strategy designed to minimize risk and accelerate time to commercialization and have made important progress towards our goal of securing clearance for three test panels before the end of 2025 |
| Our balance sheet remains strong with no debt, and we continue to focus on cash conservation |
| We believe these changes will further increase our ability to manufacture with speed and quality required to scale when we commercialize |
| However, I do think there's opportunity for us in the meantime, as we get clearance of the other products to get those to market in the hands of customers and get some great experience utilizing those as well |
| A second study also presented at IDSOG demonstrated our ability to effectively life challenging fungal pathogens in under four minutes on the Talis One system |
| In summary, our team's focused execution is delivering progress across our strategic imperatives |
| Great |
| And nice to speak to you as well, Mark |
| Moving to manufacturing where we have established capabilities with the flexibility and stability to address all stages of our business |
| In neat mail urine, positive results matched 100% for CT, NG and TV against the comparators, while negative result agreement matched 100% for CT and NG and 98% for TV |
| Selling, general and administrative expenses in the second quarter were $6 million compared to $9 million in the second quarter of 2022, primarily due to lower head count costs |
| This achievement is a critical step in developing our point-of-care vaginal infection panel |
| Emily Faucette Good afternoon and thank you |
| Statement |
|---|
| Obviously, after we collect all of the specimens, we'll have to do the analysis and write up the reports I also understand that December is a difficult time for the FDA |
| As we started getting towards the late spring, early summer, it dropped to approximately 5% |
| So that slowed down a little bit |
| It looks like the cash burn declined to $15 million in the quarter |
| To drive further operational efficiency and spending reduction, we continue to restructure relationships with our contract manufacturing partners |
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